Date of this Version
Strategic Management Journal
The resource view of the firm has made substantial progress in identifying what attributes of a firm may provide a source of competitive advantage; however, the literature has far less to say about the emergence of these distinctive capabilities. We develop a simple framework based on the role of positive feedback effects of market activity, organizational factors that cause a firm to focus on a particular capability trajectory, and lastly the role of managerial choice with respect to anticipated feedback effects, which we term feedforward effects. We apply this framework to the emergence of competitive positions in the mutual fund-processing business from its inception to 1984.
This is the peer reviewed version of the following article: Levinthal, D. and Myatt, J. (1994), Co-Evolution of Capabilities and Industry: The Evolution of Mutual Fund Processing. Strat. Mgmt. J., 15: 45–62., which has been published in final form at doi: 10.1002/smj.4250150905. This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Self-Archiving http://olabout.wiley.com/WileyCDA/Section/id-820227.html#terms.
organizational capabilities, mutual funds
Levinthal, D. A., & Myatt, J. (1994). Co-Evolution of Capabilities and Industry: The Evolution of Mutual Fund Processing. Strategic Management Journal, 15 (S1), 45-62. http://dx.doi.org/10.1002/smj.4250150905
Date Posted: 27 November 2017
This document has been peer reviewed.